WEF explores how emerging technology clusters are changing the financial services industry. Artificial Intelligence, Internet of Things, Cloud Computing and 5G Wireless offer new opportunities. Here are three ways in which we will begin to experience the effects of these technology clusters.
“The market for data center hardware is soft, and not just because of COVID-19. Like so many other trends, the pandemic didn’t yield anything new, but it did significantly accelerate almost every trend. Spending on teleconferencing exploded, while data center spending slowed considerably.”
Hyperscale cloud providers and global network carriers have been building stronger relationships and deeper integrations around SD-WAN and networking solutions. The partnerships are a natural fit as more enterprises move business-critical workloads to cloud platforms.
Edge computing will drive new revenue growth in the telecom sector. Revenue from cloud-edge artificial intelligence (AI) chipset sales will grow from $2.6 billion in 2020 to $12 billion in 2025, at a compound annual growth rate (CAGR) of 36 percent, according to the latest worldwide market study by ABI Research.
“Delivering automation of indirect sales processes, workflows and partner programs, channel software is becoming increasingly critical to a brands’ ability to win, serve, and retain its customers and partners. It’s a fast-growing market, with 59% of companies increasing spending across the stack.”
While 2019 has seen the first deployments of 5G in the consumer domain, 2020 will be the year of large scale commercial 5G rollouts across the globe. As a result of this network investment, 5G generated revenues for cloud-based entertainment services are forecast to rise rapidly.
Half of U.S. healthcare providers will invest in robotic process automation (RPA) in the next three years — that’s up from 5 percent this year according to Gartner. The need to optimize costs and scarce healthcare resources during the pandemic is advancing RPA adoption.
“A new breed of AI-infused automation technology, referred to as intelligent process automation (IPA), is the result of enterprise operations teams citing complexity and the lack of automation as key barriers to cloud-native app development and modern application deployments.”
2019 was the year that high-performance computing (HPC) in the cloud hit a tipping point. Cloud spending for HPC work is projected to jump from just under $2.5 billion in 2018 to approximately $4 billion by the end of 2019 — that’s a 60 percent jump.
via Next Platform